 "Strong book sales push News Corp profit")
News Corp, publisher of the Wall Street Journal, reported quarterly revenue and profit above estimates, helped by higher sales at its book publishing and online real estate businesses. Revenue from book publishing rose about 24 per cent to $406 million in the first quarter, helped by higher book sales at its HarperCollins unit.
Revenue from digital real estate services also rose 24 per cent. Revenue at the news and information unit fell about 3 per cent, hurt by lower advertising and subscription sales, but overall company revenue rose 4 per cent to $2.15 billion.
Net income available to the company's shareholders was $65 million, or 11 cents per share, in the first quarter ended Sept. 30, compared with a loss of $27 million, or 5 cents per share, a year earlier. Excluding items, the company earned 9 cents per share.
Revenue from digital real estate services also rose 24 per cent. Revenue at the news and information unit fell about 3 per cent, hurt by lower advertising and subscription sales, but overall company revenue rose 4 per cent to $2.15 billion.
Net income available to the company's shareholders was $65 million, or 11 cents per share, in the first quarter ended Sept. 30, compared with a loss of $27 million, or 5 cents per share, a year earlier. Excluding items, the company earned 9 cents per share.
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